EQT seals €6.8bn Baring Private Equity Asia buyout to capitalise on regional boom

Global private equity major EQT has completed its €6.8bn of buyout peer Baring Private Equity Asia to make good on its key strategy objective of expanding in the region.

Baring Private Equity Asia, which will be renamed BPEA EQT, is one of the major buyout players in the region, with about €22.1bn of assets under management.

EQT CEO and managing partner Christian Sinding said, “Asia is home to more than half of the world’s population and predicted to generate over 40% of global GDP within ten years – as a result, it’s expected that the growth of the Asian private market will accelerate at nearly double the pace of global markets through 2025.

“As a combined firm, we offer local experience and global capabilities – underlined by shared values – that puts EQT in an even stronger position to capture the opportunity through our leading investment strategies across private equity, infrastructure and real estate.”

BPEA EQT combines the private equity teams from BPEA and EQT Asia, with teams based in Beijing, Hong Kong, Mumbai, Seoul, Shanghai, Singapore, Sydney and Tokyo.

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The deal completion comes a month after BPEA closed one of the biggest ever private equity funds raised by an Asia-based firm on $11.2bn.

The firm soared past its $8.5bn target for Fund VIII, with the final total representing a 70% increase on the $6.5bn BPEA raised for its seventh flagship fund in 2020.

EQT said its real estate division, EQT Exeter, would also be bolstered by the integration of BPEA’s regional Asian real estate business, BPEA Real Estate.

The combined business will expand its investments in logistics, office, multi-family, and life sciences, in parallel with EQT Exeter’s global geo-sector specialist strategy.

Source: AltAssets

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